SMM Nickel Market Daily Review (2015-9-11)

SHANGHAI, Sept. 14 (SMM) – SMM #1 nickel prices were between RMB 77,400-78,400/mt. Discounts of Jinchuan nickel against the most actively traded contracts on the Wuxi electronic trading were RMB 300/mt in the morning. The price spread between Jinchuan and Russian nickel narrowed. Trading of Jinchuan nickel was active, while arriving shipments of imported goods decreased from yuan’s volatility. Trading was modest, with traded prices between RMB 77,000-77,800/mt. Downstream purchases were quiet in the afternoon, but traders replenished stocks actively, with traded prices between RMB 76,900-77,800/mt. Jinchuan Group raised prices by RMB 1,600/mt to RMB 77,800/mt.